Exxon to plough USD 400 million into new oil tankers

October 05/2011

(Arabian oil and gas) -- Exxon
Mobil Corporationís U.S. marine affiliate, SeaRiver Maritime has signed an
agreement with Aker Philadelphia Shipyard for the construction of two new
Liberty Class tankers valued at USD 400 million, which will create more than
1,000 direct jobs.

The double hull vessels will be used to transport Alaska North Slope
crude oil to U.S. West Coast destinations and will be built to include the
latest navigation and communications equipment and exceed current environmental
and energy efficiency standards.

ďThis project is a reminder of the importance of Americaís energy
industry during the current challenging economic times,Ē Andrew P. Swiger,
ExxonMobil senior vice president, said at a ceremony attended by Pennsylvania
Gov. Tom Corbett.